LS Group holding company LS announced on the 16th that it has partnered with L&F, a high-nickel cathode material specialist, to establish a joint venture (JV) called LS-L&F Battery Solution (tentative name) for the precursor (precursor) business, a core technology material for cathode materials.

Accordingly, the two companies will break ground on a precursor factory for secondary battery materials based in Saemangeum Industrial Complex in Jeollabuk-do within the year and start mass production in 2025-2026. After that, the company will continue to expand production, aiming to produce 120,000t in 2029. The total business scale is expected to reach more than 1 trillion won.

The precursor JV will be launched under a joint management system with LS holding 55% and L&F 45% of the shares. Through the joint venture, the two companies will carry out comprehensive business cooperation in the secondary battery anode material business, including precursor manufacturing and sales, as well as nickel sulfate and recycling.

“Through the K-Alliance, we hope to respond to the IRA (U.S. Inflation Reduction Act) and CRMA (EU Critical Materials Act) and contribute to strengthening K-Battery’s competitiveness in the field of cathode materials and their precursors, which are key materials for secondary batteries, a national future strategic industry, and further accelerate its entry into overseas markets,” said an LS official.


https://news.g-enews.com/article/Industry/2023/06/202306161523353314a67d2c7d5a_1?md=20230616164224_U